Money

China Loves U.S. Companies, Not American Workers

As the Sino-American trade war heats up, Chinese partisans are quick to point out that in terms of revenue, American companies are far more dependent on China the massive $375 billion bilateral trade deficit might suggest. Roughly a dozen Fortune 500 companies rely on China for more than half their revenue, and the Chinese argue that neither the Japanese nor the Koreans were this open to foreign companies at the same stages in their developments. Deutsche Bank took up this line of argument this week, issuing a research report that highlighted $223 billion in sales done by Chinese subsidiaries of U.S.-based companies in 2015. According to the note,“General Motors sold more cars in China than in US last year. There are 310mn active iPhones in China, more than double the number in the US. The...

Dear Executives and Directors of Travelport Worldwide

My name is Paul Singer. Perhaps you have heard of me? I write letters to people like you with some frequency, and now that my hedge fund, Elliott Management, has just bought a 12% stake in your company, I am writing one to you. Are you aware that Travelport is now worth just half what Blackstone paid for it 12 years ago, and that since Blackstone dumped it onto the unsuspecting public it has created literally no value for shareholders? As such, my private-equity arm would now like to buy the rest of it so as to fire all of you and make your underperforming company not. Barring this, I am happy to hear offers from others who would like to buy Travelport for more than I am willing to pay while still making my 12% investment worthwhile, before presumably firing you all and making your underpe...

Quadratic’s Nancy Davis on where volatility could strike next

The full interview with Nancy Davis.

US reportedly considers using existing emergency law to bar Chinese investment in ‘sensitive’ tech

President Trump last week announced up to $60 billion in tariffs on Chinese imports.

Short-seller Andrew Left is now betting against Twitter less than 2 months after touting bullish bet: ‘Everything’s changed’

Citron Research's Andrew Left is short Twitter less than two months after making a bullish bet on the stock.

Trump tariffs are a ‘Goldilocks’ outcome for steel stocks: Credit Suisse

President Trump's tariffs on foreign steel creates a "Goldilocks" outcome for the U.S., Credit Suisse said.

Cramer: Facebook should hire a special counsel to show it has nothing to hide

"Another day, no outside counsel hired by $FB to investigate. You would only not do this if you had something to hide," CNBC's Jim Cramer tweets.

Stocks of mall owners sink as GGP accepts disappointing bid from rival Brookfield

GGP is considered to have some of the best-quality malls in the U.S.

Economist fears a 30 percent stock market correction with consumer spending ‘maxed out’

Stock markets could see a hefty fall due to a slew of trends, one economist told CNBC.

Buy Wynn Resorts shares now that Steve Wynn has dumped the stock: JP Morgan

J.P. Morgan raises its price target to $214 from $196 for Wynn Resorts shares.

Donald Trump Thinks It’s Great That He Managed To Get Through Monday Without Crashing The Stock Market

Everybody knows that sooner or later, Donald Trump’s stock market hubris is going to culminate in a disastrous Icarus moment when his ill-conceived economics collide with his balls-out foreign policy to send global equity markets tumbling 20% or more into a bear market befitting of a world where a WWE hall of fame inductee accidentally became the most powerful man on the planet. That’s a foregone conclusion and we got a preview of it last week. If you’re not a keen market observer, you might be inclined to attribute February’s crash in part to Trump, but that wouldn’t be entirely fair. Sure, there’s an argument to be made that his foray into late-cycle fiscal stimulus exacerbated the bond selloff (by skewing the supply/demand picture in the Treasury market at a time when the Fed is letting...

Bill Ackman Finds Honest-To-God Finance People Still Willing To Associate With Bill Ackman

It’s awfully lonely being Bill Ackman. There’s just something about the guy that brings out the bully in, well, everybody. And he’s certainly given them plenty of ammunition while also watching his marriage of 25 years disintegrate. It’s enough to make a guy want to drown himself in queso and even generate a personal insight or two. Still, Bill Ackman is who he is, and can’t seem to change that to any great extent, which means that associating with him in any way brings all sorts of risks, from the financial to the reputational. But at least two people of character are willing to stand by this beaten-down soul, two people with actual résumés, even, albeit two people who are more-or-less retired. Meet the two newest members of Pershing Square Holdings’ board: In a statement, the fund said i...